Showing posts with label Olusegun Adeniyi. Show all posts
Showing posts with label Olusegun Adeniyi. Show all posts

Friday, 15 July 2016

IS DANGOTE THE ONLY BILLIONAIRE IN NIGERIA?


Two decades ago, Alhaji Aliko Dangote was one person most of us loved to hate. He belongs to that small select group of Nigerians who had unfair access to government and government patronage. It has been said that behind every huge fortune lies a huge crime. That said, was Dangote the sole beneficiary of unrestricted access to Gen Babangida and all other heads of state after him? The answer is a big no. Where are the others?
I say this on behalf of the teeming masses. Whatever sins Dangote may have committed have long been forgiven him. The purgatory of the interminable board meetings, travels, financial and technical sessions that he routinely has to contend with is enough to kill four regular folks. Our Dangote inexplicably keeps going at it. The other Nigerian billionaires must think Alhaji Dangote to be really mad to take all that trouble when he can choose to take things easy. They know themselves. The public knows them. Hence I do not have to waste any time identifying them one by one. Physical and intellectual laziness is second nature to such characters. Pulling out their loot stashed overseas and investing same in productive ventures at home would involve risk and a requirement to WORK, a strange notion indeed.
Finally, I must point out that budding youth entrepreneurs do not create the quantum of jobs that a potentially growing economy, like Nigeria, needs in the absence of the Dangotes, MTNs, etc of this world. We need as many big players, both local and foreign, as we can cultivate. Apart from direct sales to the public, it is the demand from the big investors that often constitute the critical mass for the success of these youthful entrepreneurs that Emefiele covets. I doubt that the government and its nascent economic team understand these fine points.

Monday, 2 May 2016

Buhari to sack five ministers? Where does that lead us?


Writings in Naij.com, correspondent Clement Ejiofor reported that five ministers in President Buhari's cabinet may have been pencilled down for sacking. He elaborated. I have wondered if this is news or a figment of the imagination of the writer as in wishful thinking. Are we happy with their performance to date? Definitely not. However floating the kite of a cabinet reshuffle now is definitely unhelpful. Let those who got the jobs settle down and do it.
Dr Kayode Fayemi "was reported to have said that he would need time to learn in his ministry."
This is correct. It applies to almost everyone of the ministers even potential high fliers like Babatunde Raji Fashola. The size, scope and the entrenched interests in just one of the ministries under Fashola, say Power or Works, is capable of styming the most brilliant of us all. When a president or minister says that he/she will hit the ground running, nobody seems to factor in the fact that he/she will have to run the gauntlet set up by the necessary evil called the Civil Service. The 2016 Budget fiasco is a case in point.
Dr Ibe Emmanuel Kachikwu of Petroleum and NNPC was not mentioned in this regard. However I am dragging his name and position into this discussion because in the coming year or so we shall definitely encounter several developments that we, the masses, will be extremely unhappy about. Take the current fuel and electricity scarcity for example. We had it coming due to years of timidity, spineless administration and non-regulation. The government seems incapable (or is it unwilling?) to explain, sell or push through with the new electricity tariff. Everybody prefers to discuss metres. I do not envy Kachikwu. Yes, he sells gas to the power companies, and has no fuel for the masses.
As regards the new Minister of Foreign Affairs, Geoffrey Onyeama, when is he ever going to

Tuesday, 8 March 2016

Letter to Olusegun Adeniyi of Thisday RE: BUHARI AND THE OLD WOMAN IN KATSINA

RE: BUHARI AND THE OLD WOMAN IN KATSINA - Olusegun Adeniyi, Thisday
Dear Segun,
As usual you covered so much ground in your recent article. Please allow me to dwell only on the issue of fuel subsidy.
How do I get the impression that the people in President Buhari's inner circle are leaking their reasoning for delaying the removal of fuel subsidy through you because they believe that you will do a better job of selling it to the rapidly growing band of critics, which now includes you? Kind of Explainer-in-Chief. For goodness sake, you have done your own bit. Let this regime carry its own burden.
In my opinion piece titled "Gas-to-Power Conundrum" (Sept 2014), I boldly staked a position for the immediate removal of natural gas, fuel (as in petrol) and electricity subsidies. I knew that this was a very unpopular position, but I have never engaged in a popularity contest with the ever posturing Nigerian public figure and pseudo-analyst. For sure, I am not one of them. I actually directly blamed the elite who against their better judgement joined the largely uninformed masses at Gani Fawehinmi Park to torpedo the then planned removal of fuel subsidy. I regret to inform you that I have to date not seen a proper analytical response to my original thesis. Talk of being roundly ignored. Over the course of several interventions, (none of which was published by Thisday), I have also asked for the price of kerosene, indistinguishable from aviation fuel, to be freed from government control. None of the intended benefits ever trickled down to the masses. Meanwhile the market became grossly distorted as a result. The unresolved issue of the continuing abuse of the fuel subsidy scheme is a different kettle of fish. Today Friday, December 4, 2015, I purchased 30litres of petrol from a filling station in Oshodi, Lagos. You should have seen the relief on my face as I most gladly paid N120 per litre. How desperate I was.
I have therefore become quite frustrated when, with the predictable but ignored collapse of government finances, the same activists who graced the rally at Ojota (I don't have to name them) started falling over each other to have their names in print, and on radio/television with the new message, "Yes, it is now the right policy to eliminate fuel subsidy." They say and/or write this viewpoint with a straight face, and without offering any new facts to buttress the change of position. Probably they are counting on the short memory of most Nigerians.
You also wrote, "Nigerians want to know, and indeed deserve to know, what Buhari is doing about the economy and they want to hear it from him." Why then are you allowing President Buhari's handlers to offer us snippets through your column? Is it a matter of plausible deniability? The Buhari presidency should man up and talk directly to us citizens. If we don't like or don't make sense of what we hear or see, we will roundly criticise the government. That's their lot. The team asked for the job. We gave it to them.
I can easily deduce that you wish this new administration well. So do I, without any reservations. It must learn and fast too that all the carry over problems from the Jonathan presidency plus any new ones now belong to President Muhamadu Buhari. His team should please, please get on with the job.